A well-articulated business vision means having documented clarity of your required business outcomes, what your organisation or department is aiming to achieve over the short, medium and longer term. It has two primary aims:
- To ensure your internal team understand and agree to deliver that vision.
- That any service providers also understand the vision. It’s important that your potential or incumbent providers can ensure any services they provide clearly align to your organisation’s vision and outcomes. Where their services cannot align to that vision, it is for them to advise or ‘warn’ you pre-contractually of what compromises you and they will have to live with as a result, and the impact on your outcomes such compromises in service delivery will necessitate.
What should a good business vision contain?
A well-articulated business vision is made up of eight elements:
- Clarity of Vision
- Clear Business Outcomes and Objectives
- An Explicit Business Strategy
- The Business Case
- Business Objectives ‘Status’ Definition
- SMART KPIs
- Roles and Responsibilities Allocation
- Operational Governance.
The role of management
A competent, aligned and informed management team that is united on the principles of an articulated business vision with the above-mentioned eight elements, means the right operating disciplines will be in place to assure the success of the service delivery relationship and that it will continue to innovate to drive maximum value in the relationship.
Clarity is key
This type of clarity in a well-articulated business vision provides (1) an accelerated timescale to full benefits realisation, (2) significantly reduced service delivery costs and misunderstandings and (3) a highly positive reputational impact.
Do You Want to Know More About this or Other Procurement Topics?
Learn more about the purpose of a well-articulated Business Vision and its role in the procurement process and access further responses to FAQs in our dedicated FAQ page or a wider range of thought leadership articles in our Blog pages.